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Home 2. Management Report Business Performance
In 2021, the Mikron Group was able to significantly improve its earnings situation. All key financial figures are considerably better than in the previous year. The key drivers of this encouraging development were the restructuring successfully completed in 2020 as well as the significant sales increases reported by the Mikron Tool division of the Mikron Machining Solutions business segment and by the Mikron Automation business segment. Net sales of the Group rose from CHF 257.8 million to CHF 289.5 million (+12.3%). The Group’s EBIT for 2021 amounts to CHF 17.6 million (2020: CHF -4.7 million before restructuring costs and CHF -20.8 million after restructuring costs), and the cash flow from operating activities is a remarkable CHF 50.7 million (2020: CHF 9.2 million).
At the end of 2020, the Mikron Group concluded the comprehensive restructuring measures of the previous year with the closure of the machine production facility in Rottweil (Germany) and its focus on tools. The Berlin site was closed. To simplify the organization, the Board of Directors of Mikron Holding AG decided furthermore to merge the four Swiss subsidiaries Mikron SA Boudry, Mikron SA Agno, Mikron Tool SA Agno and Mikron Management AG, Langenthal, into Mikron Switzerland AG, retroactively effective as per January 1, 2021. Mikron Holding AG, Biel, remained a separate entity. The merger of the four Swiss subsidiaries had a one-time positive tax effect for the financial year 2021 of approximately CHF 5 million by utilizing and capitalizing tax loss carryforwards. The merger has no impact on the operating activities of the Group or on the management of the single locations.
Covid pandemic and supply chain limitations
The Covid pandemic continued to affect and complicate the Mikron Group’s business, particularly in the area of services. In response to the pandemic, regulatory requirements had to continue to be met and extensive precautionary measures needed to be taken. During the current year, Mikron’s business was also impeded by the uncertain availability of raw materials and supplier parts.